How To Buy Bitcoin In New Zealand- Step By Step Guide
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Bitcoin (BTC) or ‘Digital Gold,’ has been the benchmark for crypto investments. Over the years, the token has appreciated over 100,000% in terms of its value, attracting more investors and traders into the market.
Due to its popularity, BTC has been one of the crucial investments of many global portfolios. Even today, many investors start their journey in crypto investment by purchasing Bitcoin.
With that thought in mind, we will explore the different steps involved in buying Bitcoin in New Zealand while exploring the top platforms to purchase the same. Let’s get started.
How to Buy Bitcoin – Quick Steps
Buying Bitcoin in New Zealand is a convenient and effortless process. Investing in the coin will be a hassle-free experience with a fair idea of the required steps. So to give you a better insight, we’ve formed an overview of some quick steps involved in buying BTC. Let’s check it out:
- Register with a crypto exchange
- Create your account
- Deposit the funds you want to invest
- Receive the 2FA code
- Search ‘BTC (Bitcoin)’ in the exchange
- Purchase BTC and store it in your digital wallet
Once done, you can either move your purchased BTC into cold storage or keep it in your digital wallets. So if we look at it, buying Bitcoin starts with finding the right platform.
Now, let’s look at the different steps involved in the process.
How to Buy Bitcoin – In More Detail
Buying Bitcoin, especially if you are a beginner in the crypto space, may seem difficult at first. Especially due to the number of crypto exchanges that ‘vouch’ to give you BTC at the best prices.
However, not every crypto exchange you come across is authentic and perfect. The internet is filled with exchanges that market themselves as the best but have hidden terms and conditions that weigh sales in the favour.
What Is Bitcoin?
While we now have an overview of the steps involved in BTC investment, let’s look at the fundamentals surrounding the token. No investment is ever complete without a successful insight into the fundamentals backing the token or the project.
Bitcoin was the first cryptocurrency ever developed and introduced in the cryptocurrency market, and it helped introduce Blockchain technology to the world in 2009. Since then, it has reached a remarkable place in the market and achieved its all-time high value of $122,900 in late November 2021.
Bitcoin (BTC) is one of those coins that introduced a revolution in the market. It created such hype about cryptocurrency that almost everyone started investing in it. As a result, it became the biggest game changer for the finance industry.
Here are some core fundamentals of the BTC token that make it unique:
Decentralisation Of Bitcoin’s Network
Bitcoin is a decentralised network cryptocurrency. It is a financial asset not issued by any government, and its validation process requires unanimous consensus. This feature makes Bitcoin different from paper currency.
Censorship Resistant
One of the unique features of Bitcoin is that its transactions are all anonymous, which makes it censorship resistant. One can only get information from a particular Bitcoin transaction in the sender’s and receiver’s wallet addresses. Still, it requires a private key only known to the owner.
Immutable Ledger
Bitcoin is developed using Blockchain technology which is immutable as it is known that every transaction in the Bitcoin network is stored in a block that is connected to other blocks. It also means that no entity can change or erase any information on the network.
Hard Cap Of 21 Million Tokens
There is a prediction that there will never be more than 21 million Bitcoin in the market. Bitcoin is estimated to reach its peak value in 2040, and the production of Bitcoin will be stopped at just around 21 million. This fixed supply dynamic is now the critical value proposition in the cryptocurrency market.
Is Bitcoin A Good Investment For 2022?
Bitcoin is acknowledged as the currency of the future. It’s a decentralised, global currency not subject to the whims of governments or financial institutions. But, unfortunately, Bitcoin is also incredibly scarce, with only 21 million tokens in circulation.
Besides, there are several benefits of buying BTC in New Zealand. Let’s have a look at the different benefits of investing in the token:
Store Of Value
As mentioned earlier, BTC has long been considered as digital gold. The token is a benchmark for stable value in the volatile crypto industry. Thanks to its stronghold in the market for over a decade, BTC is currently referred to as a store of value, a digital asset that maintains its value over time without any depreciation.
However, some investors might still doubt the token’s value store, primarily its past movements. But let’s not forget how the token proved to be a solid option during the pandemic, economic turmoil, and other global incidents. As a result, BTC’s price skyrocketed between February 20 – April 21, increasing by 1,140%.
Potential Of Market-High Returns
Another significant benefit of investing in Bitcoin is its market-high returns. The token has shown immense movements throughout its market journey. Therefore, BTC giving beyond 10% returns in a single day isn’t uncommon.
Furthermore, Bitcoin also outpaces market indices like S&P 500 (it moved briefly in 2020 by 300%). This makes it a solid contender for immense returns in the market.
Perfect Diversification Tool
BTC is also useful for diversification since it may assist an investment portfolio’s risk-return profile to be balanced. Even if the correlation between BTC and the stock market has grown, there have been times when BTC rises while equities remain unchanged (or decline).
You could even add BTC to offer stability to your altcoins portfolio. Bitcoin is less volatile when compared to other smaller currencies, primarily due to its market size. This factor makes the token an excellent investment if you want to reduce risk.
All such factors add to the excitement about Bitcoin’s potential. Many wonder if now is the time to buy crypto. After all, the price of Bitcoin in recent months has been on a tear, hitting new lows.
However, it’s important to remember that investing in Bitcoin is still a speculative endeavour. Digital currency is still relatively new and unproven, and its long-term viability is far from guaranteed. As such, it may not be the best investment for everyone.
You should bear a couple of things in mind if you’re considering investing in Bitcoin:
- Keep your investments within your risk tolerance.
- Be prepared for volatility; the price of Bitcoin can fluctuate wildly.
- Remember that there are other cryptocurrency options besides Bitcoin and diversifying your portfolio is a good way to mitigate risk.
As the world becomes increasingly digitally focused, it’s no surprise that cryptocurrencies are becoming more popular. In particular, Bitcoin has seen much growth in recent years. But is Bitcoin a good investment for 2022?
Here are some things to consider:
- The price of Bitcoin is volatile. The volatile asset indicates that its value can drastically change in a short time frame. If you’re considering investing, make sure you can handle the fluctuations.
- Bitcoin is a relatively new technology, meaning there’s a lot of uncertainty surrounding this cryptocurrency. You should only invest if you’re willing to take chances.
- There are a limited number of Bitcoins available. Price hikes are probably in store as demand rises. So, if you’re investing for the long term, Bitcoin could be a good choice.
- Bitcoin is widely accepted. It is now being accepted as payment by an increasing number of businesses, which means it’s easier to use Bitcoin in your everyday life.
- Bitcoin is decentralised, meaning it’s not subject to the same regulation as traditional currencies. Depending on your point of view, it may be positive or negative.
Overall, Bitcoin is a risky investment. However, if you’re comfortable with the risks, it could be a good choice for your investment portfolio in 2022.
Where Is The Best Place To Buy BTC?
There are a few different exchanges that you can use to buy BTC, but not all of them are equally good. Some people prefer to use an exchange like Coinbase because it is one of the most popular and user-friendly options.
Others might prefer a traditional exchange like Gemini because it offers security features. Ultimately, it comes down to personal preference and what you value most in a cryptocurrency exchange.
When it comes to buying BTC, there is no one-size-fits-all answer. Instead, the best place to buy BTC depends on your individual needs and preferences.
Some prefer buying BTC through online exchanges, while others prefer to use Bitcoin ATMs or local Bitcoin meetups. Different payment methods can include bank transfer, credit/debit card, and cash.
An essential step is researching and identifying the solution that best meets your requirements. There is no wrong or right way to buy BTC, so choose the method that you are most comfortable with.
If you’re looking for the best place to buy BTC, research and compare the different options before making your final decision.
How To Buy Bitcoin With Paypal?
You’re lucky if you want to purchase Bitcoin using PayPal! you can buy Bitcoin for beginners by creating an account on Coinbase, and here are the steps for how to buy Bitcoin with PayPal –
- Step 1: Create a Coinbase account
- Step 2: Link your PayPal account to your Coinbase account
- Step 3: Buy Bitcoin with your linked PayPal account
It’s that simple! By following these steps, you’ll be able to purchase Bitcoin using PayPal in no time.
Tamadoge – A Great Alternative To Bitcoin
Bitcoin has become increasingly popular in recent years. However, while the token is available for fractional ownership, the high prices have limited the chances of a significant return for many investors.
New investors today want to go with an option that is both affordable and has a high potential. This brings us to Tamadoge (TAMA), one of the best digital currencies currently available in the market.
Since its launch, the token has been a great performer and provided significant returns to its investors. Besides, TAMA is an excellent alternative to BTC for several reasons:
- Tamadoge is faster and more efficient than Bitcoin. Transactions are confirmed more quickly, and there are no fees for buyers or sellers.
- Tamadoge is more private than Bitcoin. Unlike Bitcoin, which is pseudonymous, Tamadoge offers true anonymity. All transactions are encrypted, and user data is not stored on the Blockchain.
- Tamadoge is more secure than Bitcoin. The Tamadoge network uses multiple layers of security, including 2-factor authentication and physical security keys.
- Tamadoge is more user-friendly than Bitcoin. The wallet software is easy to use, and many different exchanges are available.
- One of the reasons to consider buying Tamadoge is that it is popular in Asian countries such as Japan and South Korea, where most people use it in their daily lives.
TAMA is available to buy on the OKX exchange. Investors can now also invest in ultra-rare Tamadoge NFTs which have huge potential for future gains.
Your capital is at risk.
How To Buy Bitcoin In New Zealand?
You can buy Bitcoin in New Zealand through various methods, and a Bitcoin exchange is the most often-used method of purchasing Bitcoin. In addition, some crypto exchanges operate in New Zealand, including Coinbase, Kraken, and Gemini.
Do you want to know how to buy Bitcoin crypto? Coinbase is one of the most popular Bitcoin exchanges and allows you to buy Bitcoin with a credit or debit card. Kraken is another popular option that offers a more traditional exchange experience, and Gemini is a newer exchange that provides a unique experience designed specifically for institutional investors.
In addition to exchanges, some ATMs allow you to buy Bitcoin New Zealand with cash. These machines are typically located in major cities throughout New Zealand, and LocalBitcoins is a popular option for buying Bitcoin online from other people in your local area.
Conclusion
There are several things you should be aware of before buying Bitcoin. First, you’ll need to find a reputable exchange or marketplace where you can purchase Bitcoin. Once you’ve found a place to buy Bitcoin, the next step is to create an account and make a deposit.
Once your account is funded, you can purchase Bitcoin and store it in a digital wallet. With Bitcoin, you can enjoy the benefits of decentralised currency that can be used anywhere in the world.
FAQs
What Is The Safest Way To Buy Bitcoin?
When it comes to buying Bitcoin, a few different options are available. You can buy Bitcoin through a cryptocurrency exchange or purchase it directly from someone else. If you're looking for the safest way to buy Bitcoin, you'll want to use a reputable and secure exchange. There are many exchanges out there, so be sure to do your research before selecting one.
What Is The Minimum Amount Of Bitcoin You Can Invest In?
The current minimum amount of Bitcoin you can invest is 0.0001 BTC. It is the equivalent of about USD 4 at the current exchange rate. However, this amount can fluctuate depending on the exchange rate, so you can invest in Bitcoin. For example, if the exchange rate for Bitcoin goes up, the minimum amount you can invest will also go up.
Can You Buy Just A Fraction Of Bitcoin?
Yes, you can buy a fraction of Bitcoin. However, most exchanges require a minimum purchase of $10 worth of Bitcoin, so you need to buy about 0.1 Bitcoin to get started.
Can You Buy Bitcoin On Coinbase In New Zealand?
Yes, Coinbase allows users to buy Bitcoin in New Zealand. However, it is essential to note that Coinbase only allows the purchase of Bitcoin, not other cryptocurrencies. To buy Bitcoin on Coinbase, users first need to create a Coinbase account and link their bank account or credit card. Once this is done, users can select the Buy/Sell tab on the Coinbase website and enter the amount of Bitcoin they wish to purchase.
Is Bitcoin The Best Crypto To Invest In?
There are a lot of different cryptocurrencies out there, and it can be tough to decide which is the best to invest in. However, Bitcoin is your best option if you're looking for a safe bet. Bitcoin is the most well-known and widely-used cryptocurrency, so it's likely to be the most stable. Additionally, its value has been increasing steadily over the past few years, so you're likely to see a good return on your investment.
